However, Gartman also says he doesn’t think the sell-off will be anything too severe.
“It’s not going to be much – maybe another 10 to 30 points in the S&P. I think we’re going to take the S&P back to 1360 maybe 1340 – but at that point valuations will be substantial enough for buyers to come back into the market.”
And he says if you're a retail investor, don’t let the selling spook you. “It’s perfectly normal for this kind of thing to happen when a market gets a little over bought.”
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